New Gold Inc. (NGD) Upgraded to Sector Perform by Scotiabank
Scotiabank upgraded shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) to a sector perform rating in a research note released on Friday, StockTargetPrices.com reports. They currently have C$5.00 price target on the stock.
A number of other equities research analysts have also weighed in on NGD. National Bank Financial restated an outperform market weight rating on shares of New Gold in a research report on Sunday, July 23rd. Canaccord Genuity upped their target price on New Gold from C$4.25 to C$4.75 in a report on Friday. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. New Gold has an average rating of Hold and an average target price of C$4.89.
New Gold (TSE:NGD) opened at 4.61 on Friday. The firm has a market capitalization of $2.66 billion and a price-to-earnings ratio of 47.53. New Gold has a one year low of $3.11 and a one year high of $6.28. The company has a 50-day moving average of $4.59 and a 200 day moving average of $4.16.
In related news, Director James Estey sold 28,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of C$4.77, for a total value of C$133,560.00.
New Gold Company Profile
New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.
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